Iowa Veterinary Medical Association
- Assets
- $2.4m
- Revenue
- $942.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Ankeny, IA
- Founding
- 01/1944
- Data as of
- 12/2022
- EIN
- 42-0619332
Organization Overview
Iowa Veterinary Medical Association is located in Ankeny, IA. The organization was established in 1944. According to its NTEE Classification (D40) the organization is classified as: Veterinary Services, under the broad grouping of Animal-Related and related organizations. As of 12/2022, Iowa Veterinary Medical Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Veterinary Medical Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Iowa Veterinary Medical Association generated $942.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $816.9k during the year ending 12/2022. While expenses have increased by 1.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROFESSIONAL MEMBERSHIP ASSOCIATION FOR VETERINARIANS AND VETERINARY TECHNICIANS DOING BUSINESS IN IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION, ADVOCACY, ORGANIZATION, AND OTHER GENERAL SERVICES TO MEMBERS OF THE VETERINARY MEDICAL PROFESSION IN THE STATE OF IOWA. APPROXIMATELY 1,805 MEMBERS DURING 2022.
PLANNING AND ORGANIZATION OF ANNUAL CONVENTION FOR MEMBERS PROVIDING EDUCATIONAL PROGRAMS AND OPPORTUNITIES FOR NETWORKING WITH PEERS.
HOSTING OF EDUCATIONAL MEETINGS FOR MEMBERS. A MAJOR EVENT IS THE ANNUAL WINTER CONFERENCE. VARIOUS SMALLER EDUCATIONAL EVENTS ARE AVAILABLE THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Randy Wheeler Executive Di | Officer | 40 | $147,991 |
Dr Louise Fuller Director | Trustee | 1 | $0 |
Dr Elizabeth Holland Director | Trustee | 1 | $0 |
Dr Ashlie Kolbet Director | Trustee | 1 | $0 |
Dr Joel Loomis Director | Trustee | 1 | $0 |
Dr Mark Rees Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $780,836 |
| Investment income | $60,360 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $93,502 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$69 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $942,225 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,342 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $152,431 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $118,157 |
| Pension plan accruals and contributions | $3,185 |
| Other employee benefits | $0 |
| Payroll taxes | $20,467 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,500 |
| Fees for services: Accounting | $4,030 |
| Fees for services: Lobbying | $18,682 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,663 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,223 |
| Office expenses | $5,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,052 |
| Travel | $3,223 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $212,591 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,410 |
| Insurance | $2,274 |
| All other expenses | $32,418 |
| Total functional expenses | $816,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,819 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,661 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,372 |
| Prepaid expenses and deferred charges | $6,577 |
| Net Land, buildings, and equipment | $9,338 |
| Investments—publicly traded securities | $1,983,412 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,386,179 |
| Accounts payable and accrued expenses | $9,342 |
| Grants payable | $0 |
| Deferred revenue | $289,322 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $298,664 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,087,515 |
| Total liabilities and net assets/fund balances | $2,386,179 |
Grants Awarded
Over the last fiscal year, Iowa Veterinary Medical Association has awarded $17,293 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
IOWA STATE UNIVERSITY PURPOSE: WHITE COAT CEREMONY | $10,800 |
IOWA STATE UNIVERSITY PURPOSE: RESEARCH FUNDS | $6,493 |